Community Development Law
Building a strong Cleveland is central to what we do at Yourkvitch & Dibo, LLC. First and foremost, that means building strong communities. The practice of Community Development Law draws together areas of law including nonprofit and corporate governance, real estate, finance, construction and regulatory compliance in service of projects and organizations that grow resilient and equitable communities.
Our clients include nonprofit organizations, for-profit developers, construction companies, and small businesses who engage in neighborhood-based projects ranging from commercial development to affordable housing.
Our experience in nonprofit formation and governance includes taking organizations from the initial idea stage to obtaining their IRS determination letters recognizing tax exempt status. We have also advised nonprofits throughout their lifecycle from growth to reorganization.
From state and historic tax credit deals to acquisition strategy and construction agreements, we provide clients with effective representation on both sides of the tables: nonprofits, real estate developers, small businesses, corporations, and individuals. Regardless the size of the deal, each client receives the maximum amount of care and due diligence as it relates to every step of the transaction.
Types of Transactions:
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Pre-development including pre-development agreements for projects ranging from the development of recreational space to affordable housing, environmental and other regulatory due diligence.
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Acquisition Strategies include nuisance abatement, tax certificates, land banks, and creative strategies including cy pres with the Ohio Attorney General to acquire property with unclear title, quiet title, probate, long-term and ground leasing.
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Construction contracts (including AIA), green-rating, tax abatement, zoning, leasing (including leasing of tax-credit and government-financed projects), property management, and compliance with workforce inclusion laws, including City of Cleveland Office of Economic Opportunity, Jobs Ohio and Davis-Bacon.
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Advising for-profit and nonprofit developers on all stages including acquisition, construction, negotiation, closing and compliance with federal, state and local financing involving grants, loans and forgivable loans, including HUD (and URA), HHS, OHFA, ODNR, Ohio Finance Fund, City of Cleveland Community & Economic Development and Cuyahoga County Economic Development funds.
MAJOR PROJECTS:
LaSalle Theatre
Developer’s Counsel in all aspects of Historic Rehabilitation Tax Credit-financed redevelopment of historic theater with retail and affordable housing units, including negotiation and closing of investor participation and private and public loans, including HOME, VPI, Store Front Development, Village Capital Corporation and private bank construction loans totaling more than $4.2 Million.
Langston Hughes Community Health & Education Center
Borrower’s Counsel in bank exit of New Market Tax Credit structure for development of community center and related re-financing, including maintaining compliance with federal financing.
Quincy Place – Municipal Bond Financing
Borrower’s Counsel in replacement of single-holder municipal bond for purpose of assignment to new bond-holder; acting as Borrower’s Counsel in reissuance of municipal bond for purpose of fixing Borrower’s interest rate affected by decrease in corporate income tax rate.
Franklin Crossing
Co-Developer’s Counsel to nonprofit partner in Low Income Housing Tax Credit project developing multifamily building, including negotiation and drafting of indemnification agreement
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Fairfax Elderly Housing
Developer’s Counsel in post-compliance exit of nonprofit lender in Low Income Housing Tax Credit project financing senior housing.
Fairfax Homes
Developer Counsel in exit of nonprofit co-developer and negotiation of resale and 15-year transfers with respect to HOME financing.
Developer’s Counsel
Representation of regional housing developers and landlords with portfolios of 250+ units.